On April 6, 2015, StanAb,
LP, a West Chester-based real estate development company, made a presentation
to Kennett Square Borough Council about its vision for the Lofts of State
Street, a mixed-use project that would bring nearly 200 luxury apartments, as well
as some commercial space, to the 600 block of State Street in Kennett Square
Borough.

The seeds for the Lofts of
State Street project were actually planted even earlier than that. Kennett
Square mayor Matt Fetick invited StanAb officials to a breakfast meeting in the
spring of 2013 to encourage them to explore real estate development
opportunities in the borough.

Now, more than six years
later, the project may be gaining some real momentum. Kennett Square Borough
Council recently approved zoning changes, by a 5-to-2 vote, that will allow for
taller and longer buildings in the C-2 Secondary Commercial Zoning District
along West State Street from South Washington Street to Mill Road, the
borough’s western border. As a result of the zoning changes, the allowable
height of buildings will increase to 55 feet and the allowable length of the
buildings will be up to 400 feet. The zoning changes could pave the way for the
Lofts of State Street project to move forward.

Kennett Square Borough Council
president Doug Doerfler emphasized that this project, which would transform the
western part of State Street that was once the home to two car dealers, would
still need to go through the regular land-development process before it would
be approved.

The interest that StanAb LP
has in undertaking a large project in Kennett Square illustrates the borough’s
ongoing revitalization efforts. StanAb LP was formed by Tony Stancato and Vic
Abdala in 1995 after they had spent more than a decade building and developing
single-family residential neighborhoods in central Chester County. StanAb LP
has undertaken numerous high-end commercial and multi-family projects in the
region, perhaps most notably the redevelopment of the former Woolworth's
Department Store site in downtown West Chester. That redevelopment project
featured a retail office strip center that was anchored by Iron Hill Brewery
and office suites. The company also oversaw the development of the Green Tree Building
in West Chester.

At the time of the initial
presentation, Stancato noted that large projects like Magnolia Place and
Victory Brewing showed how vibrant the borough is. He compared Kennett Square
to West Chester Borough, which also benefited from a strong revitalization. He
said that there was a need for additional luxury rental properties in Kennett
Square, and a market study in 2015 supported that idea.

While borough council
supported the zoning changes, some residents have been vocally and vehemently
opposed to the project. There are concerns about the impact the project would
have on traffic in the borough, especially with several large residential
projects planned for neighboring Kennett Township. There are also concerns
about the strains that population growth would place on the borough’s
infrastructure.

Doerfler said that it was
imperative for borough council to consider all the concerns that are raised by
residents, and to keep the lines of communication open regarding the project.